Congressional Deficit Supercommittee Fails

Published Nov. 22, 2011

Members of the 12-member congressional supercommitte charged with finding ways to reduce the federal budget deficit by $1.2 trillion over 10 years made it official late Monday: they have failed to reach an agreement.

“After months of hard work and intense deliberations, we have come to the conclusion today that it will not be possible to make any bipartisan agreement available to the public before the committee's deadline,” said committee co-chairs Rep. Jeb Hensarling (R-Texas) and Sen. Patty Murray (D-Wash.) in a joint statement released Monday.

“Despite our inability to bridge the committee's significant differences, we end this process united in our belief that the nation's fiscal crisis must be addressed and that we cannot leave it for the next generation to solve. We remain hopeful that Congress can build on this committee's work and can find a way to tackle this issue in a way that works for the American people and our economy,” they said.